X0303 4 2008-12-15 0 0001348155 Global Employment Holdings, Inc. GEYH 0001358905 Pennington Stephen C/O GLOBAL EMPLOYMENT HOLDINGS, INC. 10375 PARK MEADOWS DRIVE, SUITE 375 LONE TREE CO 80124 0 1 0 0 Pres of staffing services seg. Common Stock 562046.66 D Senior Secured Convertible Notes 4.40 2006-09-29 2011-03-30 Common Stock 2614 11500 D Options (Right to Buy) 3 2007-02-14 2017-02-13 Common Stock 72011 72011 D Options (Right to Buy) 3 2008-08-16 2017-08-15 Common Stock 4700 4700 D Options (Right to Buy) 1.75 2009-04-03 2018-04-02 Common Stock 25000 25000 D Series A Convertible Preferred Stock 4.07 2007-06-17 2013-03-31 Common Stock 15762.53 54 D Options (Right to Buy) .23 2008-12-15 4 A 0 20000 0 A 2009-12-15 2018-12-14 Common Stock 20000 20000 D Includes: (i) 2,614 shares of common stock issuable upon conversion of convertible notes, whether or not presently convertible, (ii) 15,762.53 shares of common stock issuable upon conversion of Series A Convertible Preferred Stock, whether or not presently convertible, and (iii) 121,711 shares of common stock underlying options to purchase common stock, whether or not presently exercisable. The conversion price of these convertible notes and the number of shares of the issuer's common stock issuable upon conversion of these convertible notes, each previously reported on Form 4 by the reporting person, automatically adjusted on September 30, 2007 pursuant to the terms of the convertible notes and remain subject to future automatic adjustment pursuant to the terms of the convertible notes. Acquired on this date by the reporting person, but first exercisable or convertible, as applicable, under its terms on March 31, 2006. Maturity date. Options vest in three equal annual installments, beginning on this date. The conversion price and the number of shares of the issuer's common stock issuable upon conversion of the Series A Convertible Preferred Stock is subject to future adjustment pursuant to the terms of the Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock is automatically redeemable by the issuer under its terms on this maturity date. Option was granted with no consideration. The amount of securities previously reported as beneficially owned by the reporting person has been reduced in this report by 86.87 shares of common stock to correct a typographical error contained in prior reports. /s/ Stephen Pennington 2008-12-17